That the Faroe Islands soon will open the 4th licensing round was clear at the annual Prospex event in London last week. Many interested oil companies paid a visit to the stand of the Faroes Geological Survey in order to get more information.
This year the Faroese Geologcial Survey also contributed with an oral presentation presenting a new play type in the Judd Basin. Since the new licensing round was announced, geoscientists at the Faroese Geological Survey, together with collaborators, have revisited the large amounts of data exploration on the Faroese Continental Shelf has produced.
During this work new and interesting ideas on plays and prospect have emerged. At the 5th Faroes Islands Exploration Conference which will be held in May 2017 all new results will be presented and the Minister of Foreign Affairs and Trade will officially open the 4th licensing round.